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The Johan Sverdrup Oil Field development has been given the green light and major contracts have been awarded. Johan Sverdrup is among the largest oil fields on the Norwegian shelf, and will at peak contribute with 25% of the production from the Norwegian shelf.

Introduction

Alaska has vast energy resources with major oil and gas reserves found in the Alaska North Slope (ANS) and Cook Inlet basins. The ANS contains 14 of the 100 largest oil fields in the United States, and five of the 100 largest natural gas fields. The North Slope’s Prudhoe Bay field is the largest oil field in the country, producing an average of 264,000 barrels per day.

Regulation

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Upstream

Alaska is the second-ranked oil-producing State after Texas, when output from the Federal Outer Continental Shelf (OCS) is excluded from the State totals. Nearly all of Alaska’s oil production takes place on the North Slope.

Active Companies

ConocoPhillips is Alaska’s largest oil and gas producer with significant ownership interests in two of North America’s largest oil fields located on Alaska’s North Slope — Kuparuk, which ConocoPhillips Alaska operates, and Prudhoe Bay.

The company also has a significant operating interest in the Alpine field on the Western North Slope, as well as adjacent Alpine satellite fields.

Crude Oils

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Midstream

The Trans Alaska Pipeline System (TAPS) transports crude oil from the frozen North Slope to the warm-water Port of Valdez, on Alaska’s southern coast.

The pipeline has a maximum daily throughput of over 2 million barrels per day, but actual throughput has been less than 1 million barrels per day since 2003.

LNG

The Kenai LNG Terminal closed in 2011, after 42 years in service. It was the oldest LNG terminal in the world

It was owned and operated by Conocophillips

Downstream

Demand for finished petroleum products in Alaska is low. Although Alaska has six refineries, most of them are “topping” plants that strip away lighter products from the TAPS heavy crude oil stream for internal refinery use.